Can I retire at age 61 with 620,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$51,199$50,743$50,298$49,864$49,440$48,225
2 years$25,346$24,874$24,417$23,973$23,543$22,326
3 years$16,730$16,255$15,799$15,360$14,936$13,757
4 years$12,422$11,949$11,498$11,066$10,653$9,518
5 years$9,838$9,369$8,923$8,500$8,098$7,012
6 years$8,116$7,650$7,211$6,797$6,408$5,372
7 years$6,887$6,425$5,992$5,588$5,211$4,225
8 years$5,965$5,507$5,082$4,688$4,323$3,387
9 years$5,249$4,795$4,377$3,993$3,641$2,753
10 years$4,676$4,226$3,816$3,442$3,102$2,262
11 years$4,207$3,763$3,360$2,996$2,668$1,874
12 years$3,817$3,377$2,982$2,628$2,312$1,563
13 years$3,488$3,052$2,664$2,320$2,016$1,311
14 years$3,205$2,774$2,393$2,059$1,767$1,104
15 years$2,961$2,534$2,161$1,836$1,556$934
16 years$2,747$2,325$1,959$1,644$1,375$792
17 years$2,558$2,141$1,783$1,477$1,219$673
18 years$2,391$1,979$1,627$1,331$1,084$573
19 years$2,242$1,834$1,490$1,203$966$489
20 years$2,107$1,704$1,367$1,090$863$418
21 years$1,986$1,587$1,258$989$772$358
22 years$1,875$1,482$1,159$899$692$306
23 years$1,775$1,386$1,070$819$622$263
24 years$1,683$1,298$990$747$559$225
25 years$1,598$1,218$917$682$503$194
26 years$1,521$1,145$850$624$453$166
27 years$1,449$1,078$790$571$408$143
28 years$1,382$1,016$734$523$368$123
29 years$1,320$958$683$480$333$106
30 years$1,262$905$636$440$301$91
31 years$1,208$855$593$404$272$78
32 years$1,158$809$553$372$246$67
33 years$1,110$766$517$342$222$58
34 years$1,066$726$483$314$201$50
35 years$1,024$689$451$289$182$43
36 years$985$654$422$267$165$37
37 years$948$621$395$246$150$32
38 years$912$590$370$226$136$28
39 years$879$561$347$209$123$24
40 years$848$534$325$192$112$20
41 years$818$508$305$178$101$18
42 years$789$484$286$164$92$15
43 years$762$461$268$151$83$13
44 years$737$440$252$140$76$11
45 years$712$419$236$129$69$10
46 years$689$400$222$119$62$8
47 years$667$382$209$110$57$7
48 years$645$364$196$102$51$6
49 years$625$348$184$94$47$5
50 years$605$332$173$87$42$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $620,000, adding $6,481 every year, while hoping to spend $39,613 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 81/10/9 Blend
60$620,000$620,000$620,000$620,000
61$689,925$657,065$647,455$744,385
62$718,150$647,113$626,997$771,053
63$747,925$635,346$604,526$794,427
64$779,369$621,633$579,932$818,892
65$812,606$605,836$553,102$844,536
66$847,778$587,807$523,917$871,456
67$885,033$567,392$492,250$899,760
68$924,538$544,426$457,972$929,566
69$966,474$518,735$420,947$961,005
70$1,011,037$490,136$381,032$994,219
71$1,058,444$458,434$338,078$1,029,369
72$1,108,932$423,424$291,930$1,066,629
73$1,162,759$384,888$242,425$1,106,193
74$1,220,209$342,596$189,395$1,148,274
75$1,281,593$296,305$132,662$1,193,108
76$1,347,250$245,759$72,041$1,240,954
77$1,417,556$190,687$7,341$1,292,101
78$1,492,918$130,803$0$1,346,864
79$1,573,787$65,803$0$1,411,519
80$1,660,655$0$0$1,481,665
81$1,754,063$0$0$1,557,553
82$1,854,605$0$0$1,647,042
83$1,962,934$0$0$1,743,474
84$2,079,766$0$0$1,847,487
85$2,205,888$0$0$1,959,784
86$2,342,166$0$0$2,081,137
87$2,489,549$0$0$2,212,394
88$2,649,082$0$0$2,354,486
89$2,821,913$0$0$2,508,440
90$3,009,307$0$0$2,675,382
91$3,212,650$0$0$2,856,551
92$3,433,471$0$0$3,053,309
93$3,673,450$0$0$3,267,157
94$3,934,433$0$0$3,499,744
95$4,218,455$0$0$3,752,883
96$4,527,753$0$0$4,028,572
97$4,864,789$0$0$4,329,007
98$5,232,270$0$0$4,656,606
99$5,633,180$0$0$5,014,031
100$6,070,800$0$0$5,404,211